Following the news today of the impending departure of Matthew Vaight, manager of the M&G Global Emerging Markets fund, who is looking to pursue other opportunities when he leaves towards this year, we have decided to remove the fund from our Academy. Mr Vaight has been with M&G for over 20 years and has also been head of the team behind this strategy for some time. He has been in charge of this fund since its launch in 2009 and the M&G Asian fund since 2008. We feel this upcoming manager change is significant enough to warrant action being taken and as such have unfortunately decided to remove our A rating and the fund from the Academy.

Michael Bourke, manager of M&G's Emerging Markets Income Opportunities fund, will take charge of the fund when Mr Vaight departs. We will of course take an interest in Mr Bourke's management of the fund and review it again in due course.